378,852 Shares in Air Lease Corporation (NYSE:AL) Bought by Waverton Investment Management Ltd

Waverton Investment Management Ltd purchased a new position in shares of Air Lease Corporation (NYSE:AL - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 378,852 shares of the transportation company's stock, valued at approximately $18,312,000. Waverton Investment Management Ltd owned approximately 0.34% of Air Lease at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AL. SBI Securities Co. Ltd. acquired a new position in shares of Air Lease in the 4th quarter worth approximately $31,000. Harbor Capital Advisors Inc. lifted its position in shares of Air Lease by 17.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 190,296 shares of the transportation company's stock valued at $9,193,000 after acquiring an additional 27,611 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Air Lease during the 4th quarter worth $202,000. Raymond James Financial Inc. acquired a new position in shares of Air Lease in the 4th quarter worth $31,414,000. Finally, Lighthouse Investment Partners LLC raised its position in shares of Air Lease by 1,944.9% during the fourth quarter. Lighthouse Investment Partners LLC now owns 129,261 shares of the transportation company's stock worth $6,232,000 after purchasing an additional 122,940 shares during the period. 94.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Air Lease

In related news, EVP Grant A. Levy sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total value of $568,500.00. Following the transaction, the executive vice president now directly owns 146,316 shares of the company's stock, valued at approximately $8,318,064.60. This trade represents a 6.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $45.00 to $68.00 in a research note on Tuesday, May 20th. UBS Group set a $50.00 price objective on shares of Air Lease in a research report on Friday, March 7th. Bank of America lowered Air Lease from a "buy" rating to an "underperform" rating and reduced their target price for the company from $72.00 to $50.00 in a report on Friday, March 7th. Finally, Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $57.43.

Air Lease Stock Down 0.3%

AL stock traded down $0.19 during midday trading on Monday, reaching $58.52. The company had a trading volume of 717,264 shares, compared to its average volume of 867,114. The company has a 50 day moving average of $54.37 and a two-hundred day moving average of $49.29. The company has a market capitalization of $6.54 billion, a P/E ratio of 10.23, a PEG ratio of 0.63 and a beta of 1.36. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $59.26. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.53.

Air Lease (NYSE:AL - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.27. Air Lease had a return on equity of 8.04% and a net margin of 24.77%. The firm had revenue of $738.28 million during the quarter, compared to analysts' expectations of $709.70 million. During the same quarter last year, the firm earned $0.87 earnings per share. The business's revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities research analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.88 annualized dividend and a dividend yield of 1.50%. Air Lease's payout ratio is 15.38%.

About Air Lease

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.